Wednesday, July 30, 2008

Oil prices rise above $126
LONDON: Oil prices climbed further on Tuesday, trading above 126 dollars in London, as energy giant Royal Dutch Shell suspended some crude deliveries from Nigeria because of unrest.OPEC President Chakib Khelil meanwhile described crude oil prices above 120 dollars a barrel as "abnormal," adding that they could fall to 78 dollars should the US currency strengthen and tensions ease over Iran's nuclear programme.Brent North Sea crude for September delivery gained 18 cents to 126.02 dollars a barrel in electronic deals at around midday in London.

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